• Source:JND
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Shilpa Shetty and her husband Raj Kundra were ordered by the Bombay High Court on Wednesday to pay a deposit of Rs 60 crore before they could travel abroad.  The high court denied them permission to travel and declined to halt the Look Out Circular (LOC) that was issued against them. This order comes after the couple petitioned to have the LOC against them in relation to a FIR about an alleged Rs 60 crore fraud quashed.

Shilpa Shetty and Raj Kundra's matter has been postponed by the Bombay High Court until October 14, according to Live Law. Shilpa Shetty as questioned for four hours at her home on October 4 by the Economic Offenses Wing (EOW) team, who recorded her statement throughout the visit. An official claimed on Tuesday that she told the Mumbai Police that she was not involved in running the business, she once co-founded with her husband, Raj.

Shilpa Shetty said in her statement that she was not aware of the purported financial irregularities being investigated and that she had no direct involvement in the operations of Best Deal TV Private Limited, the now-liquidated company.

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Why Shilpa Shetty, Raj Kundra Can't Travel Abroad?

The Mumbai Police's Economic Offences Wing (EOW) is looking into the matter, which stems from a complaint made by Deepak Kothari, a 60-year-old Mumbai businessman and director of Lotus Capital Financial Services. As per his complaint, Shilpa Shetty and Raj Kundra utilised the funds he provided them to expand their firm and pay for their personal costs between 2015 and 2023.

Deepak Kothari claimed that in 2015, the couple came to him via a middleman seeking a loan of Rs 75 crore for Best Deal TV Pvt Ltd, a business that operated an online marketplace and marketed lifestyle goods. A 12-percent interest rate was later agreed upon. Allegedly, Shilpa Shetty and Raj Kundra thereafter requested that he see the sum as a 'investment' rather than a loan, promising him principal repayment and monthly dividends.

ALSO READ - Shilpa Shetty And Raj Kundra Denied Phuket Travel By Bombay HC Amid Ongoing Rs 60 Crore Fraud Probe

Deepak Kothari stated that he made two transfers in 2015 - One in September under a supplemental agreement and another in April under a share subscription arrangement, totaling Rs 31.95 crore. The full sum was credited to the bank accounts of Best Deal TV.  But he later discovered that the company was facing insolvency because it had allegedly defrauded another investor. His repeated attempts to retrieve the money were unsuccessful, he said, and he accused the pair of 'dishonestly using' the money for their own gain.

Shilpa Shetty left her position as director of Best Deal TV in 2016.